Houston Firefighters commits $25m to industrial fund

The $4 billion Houston Firefighters’ Relief and Retirement Fund has committed $25 million to Cabot Industrial Value Fund V, according to Ajit Singh, CIO of the pension fund.

Cabot Industrial Value Fund V, managed by Cabot Properties, is a value-added real estate fund that focuses on the accretive acquisition, development, redevelopment, operating, leasing and selling of industrial properties, mainly in Europe and North America.

The fund’s predecessor, Cabot Industrial Value Fund IV, held a $712 million close in February 2014. It invests in industrial properties located primarily in North America and, to a lesser extent, Europe.

Since its inception in 1986, Cabot has invested $7.9 billion in industrial real estate, managing and operating over 3,600 tenants in 167 million square feet. Cabot recently sold a portfolio of logistics assets to LondonMetric Property for £117 million ($152 million). The 14 properties have a combined 1.3 million square feet of space,